Lundberg’s risk process with tax

In this paper we extend the classical Cramér–Lundberg risk model by including tax payments. The considered tax rule is to pay a certain proportion of the premium income, whenever the portfolio is in a profitable situation. It is shown that the resulting survival probability is a power of the survival probability without tax. Furthermore, an explicit expression for the expected discounted total sum of tax payments until ruin according to this taxation rule is derived and the optimal starting level for taxation is determined. Finally, numerical illustrations of the results are given for the case of exponential claim amounts.     

The equivalence of two tax processes

We introduce two models of taxation, the latent and natural tax processes, which have both been used to represent loss-carry-forward taxation on the capital of an insurance company. In the natural tax process, the tax rate is a function of the current level of capital, whereas in the latent tax process, the tax rate is a function of the capital that would have resulted if no tax had been paid. Whereas up to now these two types of tax processes have been treated separately, we show that, in fact, they are essentially equivalent. This allows a unified treatment, translating results from one model to the other. Significantly, we solve the question of existence and uniqueness for the natural tax process, which is defined via an integral equation. Our results clarify the existing literature on processes with tax.     

基于模糊博弈行为的京津冀跨域大气污染联合治理机制研究

本文针对京津冀如何形成有效的跨域污染联合治理机制展开研究。首先构建了跨域合作污染治理的特征函数及模糊合作博弈的参与度函数。其次结合京津冀实际环境数据,利用模糊博弈Shapley值法获得合作省市成本分摊方案。最后分析了年平均浓度,年空气质量未达标天数及环境污染治理力对成本分摊值的影响关系。研究结果表明各省市在评价期内用于污染治理的资金预算越大,计算的模糊博弈参与度越小,且平均浓度及污染天数与成本分摊值成正比例关系,环境污染治理力与成本分摊值成反比例关系。同时应鼓励合作省市前期治污的有效投资,在前期投资越大治污效果越好,且后期成本分摊值就越小。据此本文建立的联合治污经济利益协调机制能对参与者起到有效激励的作用,促使跨域联合治污有效实施。     

Progressive and merging-proof taxation

We investigate the implications and logical relations between progressivity (a principle of distributive justice) and merging-proofness (a strategic principle) in taxation. By means of two characterization results, we show that these two principles are intimately related, despite their different nature. In particular, we show that, in the presence of continuity and consistency (a widely accepted framework for taxation) progressivity implies merging-proofness and that the converse implication holds if we add an additional strategic principle extending the scope of merging-proofness to a multilateral setting. By considering operators on the space of taxation rules, we also show that progressivity is slightly more robust than merging-proofness.     

The effects of income taxation on investor's risk-taking: A stock company case

The effects of income taxation on the investor's willingness to take risks are considered. The investor is assumed to be a risk averting one. The income taxation is assumed proportional so that considerations are restricted to investments of stock companies only, and some aspects of the indebtedness of a firm are also considered. In the empirical part of the study, the efficiency of the parameters joining to taxation as the regulators of risk-taking and indebtedness is presented.     

环境规制、环境研发与绿色技术进步

为鼓励和引导绿色技术发展,驱动预防性技术和处理性技术协同进步,有必要开发环境规制的绿色技术进步导向功能,并探究其传导机理。论文通过建立双寡头同时博弈模型对环境规制、环境研发与绿色技术进步进行关联分析。研究表明:环境研发是环境规制推动绿色技术进步的重要传导路径;环境补贴力度会显著影响环境规制政策组合的技术进步效果;绿色技术进步导向的环境规制的政策组合存在一个普适性较强的应用策略;环境税和环境补贴的规制政策组合能够有效增进社会福利,具体表现为通过污染预防技术和污染处理技术的协同进步带来的产量增加、生产成本减少、污染产生量减少以及污染处理量增加。     

Optimal investment with deferred capital gains taxes

We solve the optimal portfolio problem of an investor in a complete market who is liable to deferred taxes due on capital gains, irrespective of their origin. In a Brownian framework we explicitly determine optimal strategies. Our analysis is based on a modification of the standard martingale method applied to the after-tax utility function, which exhibits a kink at the level of initial wealth, and Clark’s formula. Numerical results show that the Merton strategy is close to optimal under taxation.     

THE MODELING AND ESTIMATION OF THE SHORT-RUN SUPPLY OF ROUNDWOOD UNDER NONLINEAR INCOME TAXES

This paper deals with the theory and estimation of the short-run supply of roundwood under nonlinear (progressive) income taxation. The theoretical part of the paper uses the two-period consumption harvesting model to introduce nonlinear income taxes into the forest management problem and presents a simple method to determine the optimal supply of roundwood in this case. In the empirical part of the paper, the model is specified in a way suitable for econometric analysis. The estimation method is the maximum likelihood method, and the estimation results seem to support the theoretical model. Finally, some results from model simulation imply that income taxation may have a nonnegligible impact on the supply of roundwood.     

Optimal choice of fiscal policy instruments in a stochastic IS–LM model

This article derives optimal fiscal rules within a stochastic model of Keynesian type in the context of Poole (1970). By using optimal control theory and applying the Hamilton–Jacobi–Bellman equation, we extend the original Poole results concerning the output stabilization properties of monetary policy to the case of fiscal policy. In particular, we look for the optimal setting of government expenditure and lump-sum taxation in the case that the fiscal authority wishes to keep the product close to a reference value and that the economy is assumed to be affected by stochastic disturbances of real and/or monetary type. According to our findings an expenditure rule is preferable to a taxation rule when the two instruments are independent. The introduction of a fiscal budget rule can make taxation preferable under a certain model parametrization.     

On two actuarial quantities for the compound Poisson risk model with tax and a threshold dividend strategy

In this paper, we consider a compound Poisson risk model with taxes paid according to a loss-carry-forward system and dividends paid under a threshold strategy. First, the closed-form expression of the probability function for the total number of taxation periods over the lifetime of the surplus process is derived. Second, analytical expression of the expected accumulated discounted dividends paid between two consecutive taxation periods is provided. In addition, explicit expressions are also given for the exponential individual claims.     

Control of environmental pollution and economic growth: Modelling and numerical solution

In this paper, a dynamic model which describes the relationship between environmental pollution and economic growth is presented. On the basis of the model, an optimal trade-off between pollution and consumption is discussed for the economy which is on a balanced growth path. Then the investment policy is studied which leads the economy to the desired balanced growth path as soon as possible, under the constraint that the pollution level never exceeds a specified allowable level. Some results of numerical computation are also given.     

环境税费政策下快递包装材料回收利用的最优决策及社会福利分析

本文在一个两阶段的决策模型中研究了政府环境税收政策下快递包装材料的回收利用问题,通过比较快递服务商在不同经营策略下的总利润和碳排放总量,刻画出不同环境税费水平下的最优经营策略选择。研究结果表明,当快递包装材料回收再利用的固定投资成本过高时,随着环境税费水平的不断升高,快递服务商并不一定总是选择绿色经营策略。此外,在这种情况下快递服务商即使选择了绿色经营策略也并不能总是带来碳排放的减少和环境的改善。而如果政府能够进行适当的固定投资补贴,则可有效地促进快递服务商选择并保持绿色经营策略,并且能够实现经济发展与环境保护的双赢。在引入单位碳排放的外部性成本后,本文分析了社会福利最大化下的最优环境税费水平。算例分析显示,政府的政策干预有可能同时实现社会福利最大化、快递服务商总利润的增加和碳排放总量的减少。     

The optimal progressive income tax: The existence and the limit tax rates

The purpose of this paper is to consider the problem of optimal income taxation in the domain of a progressive (convex) income tax function. This paper proves the existence of an optimal tax function and proves that the optimal marginal and average tax rates tend asymptotically to 100 percent as the income level becomes arbitrarily high.     

Pollution,unequal lifetimes and fairness

This paper characterizes the optimal level of pollution in a two-period OLG economy where pollution deteriorates survival conditions. We compare two long-run social optima: on the one hand, the average utilitarian optimum, where the long-run average well-being is maximized, and, on the other hand, the ex post egalitarian optimum, where the realized well-being of the worst-off at the stationary equilibrium is maximized. It is shown that the ex post egalitarian optimum involves, under weak conditions, a higher level of pollution in comparison with the utilitarian optimum. This result is robust to introducing health expenditures in the survival function. Finally, we examine the decentralization of those two social optima, and we compare the associated optimal taxes on capital income aimed at internalizing the pollution externality.     

税企博弈模型──防止出口骗税的一个对策

本文初步探讨了现行出口骗税行为处罚所产生的负效应，进而建立了税企博弈模型．在国家税收期望损失为零的情况下，首次提出了出口骗税罚款系数公式（L）．该公式揭示了罚款系数与检查概率之间的关系，为税务决策部门制定罚款系数及税务操作部门安排检查力量提供了理论依据．公式（L）可操作性强，具有一定的实用价值．     

油价波动和资源环境补偿视角下石油资源税率研究——基于山东省数据

油价、资源与环境统筹管理政策缺失导致石油资源外部性问题日益严重,从油价波动和资源环境补偿视角出发研究石油资源税率是解决石油资源外部性,实现对油价、资源与环境统筹管理的关键。基于山东省2000~2013年石油资源开采行业数据,根据使用者成本法测算山东省石油开采行业的资源耗减成本,发现当前资源税费比率应提高14%;根据生态补偿标准模型测算生态环境成本,结合大量实地调研,指出生态环境补偿水平应从目前补偿水平的22%逐步提高至完全补偿生态环境成本。然后,根据价值对等原则构建资源生态环境补偿方程,探索性地计算了基于油价波动的石油资源税率,发现当油价处于(23~52)、(52~78)、(78~115)美元/桶的油价区间时,在7%折现率下分别对应17.51%、18.84%、19.04%的补偿税率,得出结论:当前条件下将资源税费与环境补偿费用合并征收,需要将补偿税率逐步提高至15%~20%。最后,从税率确定、计征方式以及监管体系三方面提出了执行对策。     

税企博弈模型的再研究

本文以文[1]基础,在更一般条件下提出了税企博弈模型,得到新的骗税罚款系数公式.从理论上证明了税务机关对企业抽样检查与全面检查具有相同的经济效果.最后,给出建模应注意的几个问题.     

Taxation,incentives, and risk sharing

The tendency for taxation to weaken incentives and induce inefficient behavior on the part of entrepreneurs is demonstrated with a simple example. Next the Mossin model is extended from a proportional to a progressive tax structure that closely approximates the one in place in the U.S.A. It is shown that increased progressivity causes the amount of wealth invested in the risky asset to decline rather than increase as is true with proportional taxes.     

CDM机制下政府碳税及垄断企业最优定价与碳排放策略研究

考虑实施CDM(Clean Development Mechanism)低碳项目的生产型垄断企业与政府的单阶段斯坦克尔伯格博弈。其中政府为领导者,以碳税税率为决策变量,企业为跟随者,以低碳产品价格及CDM项目期内总的碳排放量为决策变量。政府以社会福利最大化为目标,制定碳税税率时考虑了企业不同税率范围下的最优碳排放策略。企业面对市场上不同低碳偏好的消费者,以利润最大化为目标,首先制定其低碳产品的最优价格,然后根据不同碳税范围制定相应的周期总排放量。分析表明,低碳产品的定价受消费者低碳产品认知度与碳税税率等因素的影响;碳排放量方面,相对不同的碳税水平,存在最低、最高及凹函数稳定点解。根据这三类排放策略分析了政府最优碳税取值范围并结合算例分析得出了一些建设性的结论。     

Feedback Nash equilibria in optimal taxation problems

A well-known result in public economics is that capital income should not be taxed in the long run. This result has been derived using necessary optimality conditions for an appropriate dynamic Stackelberg game. In this paper we consider three models of dynamic taxation in continuous time and suggest a method for calculating their feedback Nash equilibria based on a sufficient condition for optimality. We show that the optimal tax on capital income is generally different from zero.